Based on region, the global market across Asia-Pacific held the lion’s share in 2019, with around half of the global PVDF resin market. In addition, the market across this region is also expected to register the fastest CAGR of 7.5% by 2027. The roper also studies the market across regions including North America, LAMEA, and Europe.
Based on application, the
resin segment accounted for the maximum market share with nearly three-fourths
of the global PVDF resin market revenue in 2019, and is anticipated to dominate
by the end of 2027. On the other hand, the filament segment is anticipated to
manifest the fastest CAGR of 8.5% during the forecast period.
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Covid-19 scenario-
The covid-19 outbreak impacted the market
negatively. The market witnessed a sharp decline in demand for PVDF resins from
end using sectors including chemical, semiconductor, and defense industries.
The disruption in supply chain, furthermore,
resulted into shortage of raw materials, thereby decreasing the growth of the
global PVDF resin market.
Nevertheless, the market is anticipated to
recover soon, as the government bodies in various regions have issued
relaxations, thus allowing the firms to restart operations.
The global PVDF resin market is segmented on the
basis of type of crystalline phase, application, end-users, and region. Based
on metals type, the alpha segment held the highest market share with more than
three-fifths of the global PVDF resin market share in 2019, and is expected to
rule the roost by 2027. However, the beta segment is expected to manifest the
fastest CAGR of 7.8% throughout the forecast period.
Key market players profiled in the industry
report include Daikin Industries, Ltd., Kureha Corporation, RTP Company, Inc.,
Shanghai Huayi 3F New Materials Co., Ltd., Arkema S.A., Shanghai Ofluorine Co.
Limited, Solvay SA, 3M, Zhejiang Fotech International Co., Ltd., and Zhuzhou Hongda
Polymer Materials Co., Ltd.
According to the report
published by Allied Market Research, the global PVDF resin market size is set
to hit $1.34 billion by 2027, registering a CAGR of 7.4% from 2020 to 2027. The
report offers an extensive analysis of changing market trends, key segments,
top investment pockets, regional scenario, Porter’s Five Forces, and
competitive scenario.
Increase in its demand from end users, its high
performance properties, and rise in acceptance of PVDF resin drive the growth
of the global PVDF resin market. However, various environmental & health
concerns, volatile raw material prices, and high threat of substitutes restrain
the growth to some extent. On the other hand, government initiatives &
investment in the renewable energy sector and key growth opportunities in the
end use industries are expected to offer an array of opportunities to the
market in the near future.
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